OIL is trading in a strong uptrend
And the price broke a strong key level recently
Now, we are seeing a pullback and a retest
Of the level, that became support
This is a classic bullish setup
And I think that there is a good chance
To see oil moving higher
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!!
All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity.
Mostly trade 12-5pm UK time NY session....
Missing leg will take Oil to new highs before a correction on a bigger scale will occur,
im looking to short the Oil when it hits new highs with tight stop losses and a previous wave 4 target.
Hello everyone, as we all know the market action discounts everything :)
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Oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas, and coal...
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean.
All trades closed on the same day. Entries on 1 min chart
Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean.
All trades closed on the same day. Entries on 1 min chart
Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
Risk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean.
All trades closed on the same day.
Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
WTI Crude Oil closed Friday at a new 7-year high weekly closing price. This is a bullish sign and many trend-following hedge funds will be buying more WTI Crude Oil futures on Monday. However, bulls should be warned that the multi-month price action remains rectangular shaped, as can be seen by the price chart below, with the $76.36 level above the current price...
Hello everyone, as we all know the market action discounts everything :)
_________________________________Make sure to Like and Follow if you like the idea_________________________________
On September 13 I posted an idea explaining how the USOIL was close to a breakout and that you should keep your eyes on the market for the next few days, and posted 2...
Yesterday, after a short-lived spike above 76, WTI reversed strongly confirming this zone as strong resistance
A deeper correction can follow from this point and we can look to sell rallies under 76
A daily close above resistance would negate this scenario
USOIL reached our short term price target of 72.50 USD today. We still remain bullish on USOIL. Because of that we would like to set new short term price target for USOIL to 75 USD per barrel. Our medium price target is 77.50 USD and long term price target is 80 USD.
Technical analysis
MACD is very bullish as it performed crossover above 0 points and entered a...
As you can see from my weekly chart, price is within a multi-year S/R zone.
The daily chart shows repeated attempts to break above the zone since end of June, but failing each time. IMO, we are witnessing another effort by the bulls and we will likely see them fail again.
I will be looking for a daily close below the zone, it will also be important to see this...
In recent days USOIL has been holding up relatively well in comparison to the general market. It currently trades around 71.30 USD. We forecast that positive developments in the airlines and the travel industry will drive demand higher over the next 6 months. Our short term price target remains 75 USD per barrel while our medium term price target is 77.50 USD. Our...
H1 time frame.
Structure: Uptrend.
The price rallied after breaking the double bottom reversal pattern on the 30 minute time frame and breaking the Key level of the correction at 71.50.
Waiting for the price to return to this area with a retest signal confirming the uptrend is back, you can find buying opportunities.
Profit target is zone...
A lot happening this week with the fed meeting and someone with power somewhere running their mouth about what "ought to be". This is a relatively high risk trade long or short. To me inflation will prevail and we will likely see speculators continue to drive up commodity prices.
H4 time frame.
Structure: The bullish structure is confirmed.
The price returned to the 70.00 support zone.
Here, wait for bullish setups on the 1-hour timeframe to buy.
The profit target is the 74.00 zone.
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Wish you all have a good trading day!
